Monday, March 22, 2010

Who Are You and What Have You Done with the Real Paul Krugman?

According to this article in last Friday's Telegraph, Nobel laureate Paul Krugman wants the US government to slap a 25% import tariff on Chinese goods in order to force the Chinese government to raise the value of its currency (the yuan renminbi). This kind of naive protectionism - naive for thinking that China could be so easily bullied by US tariffs - is most surprising given Krugman's reputation as a supporter of free-trade. Perhaps he should re-read his own book, Pop Internationalism.

It's difficult for me to see how Krugman's recommendation could possibly do anything other than harm American consumers. It's even more difficult for me to understand how Krugman, of all people, made the recommendation. Perhaps he has finally completed his conversion from respected economist to political shill.

1 comment:

  1. "Perhaps he has finally completed his conversion from respected economist to political shill."

    Finally???

    ReplyDelete

I actively moderate comments for spam, advertisements, and abusive or offensive language.